Billionaire investor Elon Musk will step down as CEO of Twitter and take on other positions in the company. The owner of the microblogging platform revealed that he has appointed a new CEO, media director Linda Iaccarino, who should be at the helm of the social media giant in less than two months.
Elon Musk is leaving the CEO job at Twitter and becoming the company’s chief technology officer
Entrepreneur Elon Musk announced that he had found someone to replace him as CEO (Chief Executive Officer) of Twitter, making a promise to users of the social network. In a tweet on Thursday, he also said he would remain with the company but in other executive roles.
Excited to announce my appointment as the new CEO of X/Twitter. Will start in ~6 weeks!
My role will transition to CEO and Chief Technology Officer, overseeing products, software and computer hardware.
– Elon Musk (@elonmusk) May 11, 2023
A new CEO, whose identity Musk has not disclosed in his initial position, will take over in the role in a few weeks while the current chairman will assume his responsibilities as CEO and CTO overseeing product, software and system operations.
in another place tweet On Friday, he revealed that the person chosen is longtime media executive Linda Iaccarino, who will focus primarily on the business side of things while Musk prefers to focus on products and technologies.
Yaccarino had already announced that she was leaving Comcast’s NBCUniversal mass media group, where she headed advertising and partnerships. She spent more than a decade there after serving as Executive Vice President and Chief Operating Officer of Advertising Sales, Marketing and Acquisitions at Turner Broadcasting.
The angel investor bought Twitter for $44 billion in October 2022 and has been running it ever since, insisting that this is a temporary job. After the acquisition, he immediately embarked on an organizational restructuring.
This included mass layoffs to cut costs. He later explained that “it turns out you don’t need all that many people to run Twitter… If you don’t care so much about censorship, you can really let go of (a lot of) people”.
While running Twitter, Musk also implemented significant policy changes, some of which were met with criticism. He has been trying to convince users to become paid subscribers and advertisers to get back on the platform.
“I will resign as CEO as soon as I find someone stupid enough to take the job!” musk chirp in December, pledging to run the software and server teams thereafter. The pledge came after the majority of respondents in a Twitter poll, which he created himself, asked him to step down.
Despite previously declaring that he does not want to be CEO of any company and that he considers himself an engineer, Elon Musk remains CEO of the American electric car manufacturer Tesla and the spacecraft manufacturer SpaceX.
In March 2023, the tech entrepreneur registered a company called X.AI Corp which, according to a Nevada filing, he holds as a director. In an April interview, Musk announced that he plans to create his own artificial intelligence (AI) platform called “Truthgpt” to rival tech giants’ offerings in this area.
Do you think Elon Musk will continue to be directly involved in defining Twitter’s policies after his resignation? Share your thoughts in the comments section below.
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